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Banks Agree to Sustain
Lines of Credit to Brazil

A Wall Street Journal Online NEWS ROUNDUP

Updated Aug. 29, 2002 11:59 p.m. ET

NEW YORK -- Brazil's central bank governor won assurances from 16 of the world's largest commercial banks on Monday to maintain their current levels of support to the nation, a move that should ease market fears ahead of the country's October presidential elections.

Following a meeting with bankers here, Brazilian Central Bank Gov. Arminio Fraga said that 16 banks had reconfirmed they will sustain their general level of business in...